BlockBeats News, June 24th, Bitcoin fell below the valuation model's Bitcoin Rainbow Chart's lowest range, marking the second time in history it has dropped into the purple region labeled "Bitcoin Dead Zone" in the original model. The Bitcoin Rainbow Chart was developed by Reddit user Azop in 2014, using a logarithmic growth curve to track Bitcoin's long-term price trend and assigning different colored regions to correspond to market sentiment stages.Some Bitcoin holders believe that the current entry into this region may represent a key buying opportunity, likening it to the scenario in 2022 when Bitcoin fell to around $15,000 and subsequently formed a cycle bottom. However, analysts have diverging views on this signal. Markus Levin, Co-Founder of XYO, stated that the price breaking below a range that has been maintained for over a decade signifies a structural change in the model. He does not see this as "Bitcoin is Dead" but rather views it as the Rainbow Chart being obsolete.Emad Shahin, COO of Ethra, mentioned that the Rainbow Chart is more of a sentiment indicator than a predictive tool. Mark Zalan, CEO of GoMining, also pointed out that the "Bitcoin Dead Zone" does not imply Bitcoin's actual death; historically, this zone usually represents extreme panic and undervaluation, followed by a recovery.With institutional investors, ETF flows, derivative activities, and macro factors playing a more significant role in Bitcoin pricing, relying solely on historical valuation models is becoming less effective. Lee stated that with Bitcoin currently at the low end of the Rainbow Chart, indicating weak market sentiment, it does not necessarily mean that a significant new low will occur. If risk aversion further worsens, Bitcoin still cannot rule out the possibility of falling to the $50,000 low range.